 "Rupee headed for biggest loss in 2 weeks")
The rupee is down 0.4%, headed for its biggest loss in nearly two weeks. Rupee was at 62.00/01 versus Friday's close of 61.75/76. Local stocks ended down 0.8%, snapping a five-day winning streak.
All-round dollar buying seen on risk aversion.
India is ready to pay $1.5 billion to Iran to clear part of a backlog of payments for shipments of oil following the partial easing of western sanctions on Tehran, Oil Secretary Vivek Rae said on Tuesday.
December GDP that came in at a below expected 4.7% is also a drag.
But the rupee found some support as manufacturing activity and new orders showed their strongest growth in a year in February, according to a survey released on Monday that suggested that the worst is over for Indian factories struggling through an economic slowdown.
All-round dollar buying seen on risk aversion.
India is ready to pay $1.5 billion to Iran to clear part of a backlog of payments for shipments of oil following the partial easing of western sanctions on Tehran, Oil Secretary Vivek Rae said on Tuesday.
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Global risk aversion on geopolitical tensions in Ukraine is weighing on most Asian currencies. China manufacturing PMI, which hit a seven-month low is further hurting the risk sentiment.
December GDP that came in at a below expected 4.7% is also a drag.
But the rupee found some support as manufacturing activity and new orders showed their strongest growth in a year in February, according to a survey released on Monday that suggested that the worst is over for Indian factories struggling through an economic slowdown.
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